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Jul
2015
Tuesday 21st
posted by Morning Star in Britain

BARCLAYS is reportedly planning to wield its axe over more than 30,000 jobs to speed up a “cost-cutting” strategy after firing chief executive Antony Jenkins.

The Times reported yesterday that the bank’s global workforce could fall from 132,000 to below 100,000 by the end of 2017 in radical redundancy programme.

It will face pressure to clarify its plans when it unveils half-year financial results next week.

Barclays declined to comment on the report.

The bank is already undergoing a major cost-cutting programme which saw 14,000 posts slashed last year and is expected to see 5,000 more go by 2016, with dozens of branches also closing down.

Chief executive Mr Jenkins was fired earlier this month as recently appointed chairman John McFarlane — who has taken over at the helm until a replacement is found — said the bank needed a new leader to speed up change.




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